Consensus

Analyst Consensus

These forecasts have been gathered for Morrisons PLC through Vuma Consensus, an independent website, from a number of registered investment analysts.

Consensus

2018/19

2019/20

2020/21

Group Like-for-like Sales

3.5%

3.0%

2.2%

- Low

1.7%

1.0%

1.2%

- High

5.1%

4.8%

3.0%

Underlying Profit Before Tax (£m)

406

440

464

- Low

397

410

414

- High

432

499

571

Underlying Earnings Per Share (p)

13.15

14.38

15.33

- Low

12.68

13.64

14.42

- High

13.80

16.01

18.31

Ordinary Dividend Per Share (p)

6.53

7.08

7.49

- Low

6.09

6.09

6.09

- High

6.90

8.01

9.15

Surplus Capital Return (p)

2.32

2.41

2.80

- Low

0.00

0.00

0.00

- High

6.42

7.19

7.56

Published on 31st May 2018

The forecasts in this analysis have been gathered for Morrisons PLC through Vuma Consensus, an independent website, from a number of registered investment analysts. These forecasts are by definition
forward looking and are therefore subject to risks and uncertainties that may materially affect eventual results. Vuma Financial Limited has had no access to Morrisons internal budgets, forecasts
or other information which is not publicly available. Morrisons PLC has not commented on any individual forecast nor does it intend to do so in the future. Nothing in this analysis should be taken
as a recommendation to buy or sell shares in Morrisons or to take any other action or place any reliance on the analysis. Morrisons is not regulated by the Financial Conduct Authority so cannot offer
investment advice. Neither Morrisons nor any subsidiary undertaking or any director, officer or employee of Morrisons accepts any responsibility for the accuracy of the forecasts used in this analysis
and therefore shall have no liability whatsoever for the consequences of any reliance or actions taken or not taken based on any of the information in this analysis. Morrisons will endeavour to keep
this information updated but assumes no obligation to update or revise such information.